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Interview with Ankur Shah, Diamond Broker, Mumbai Diamond Market

How did you start your career in Diamond Industry?
In 2003 I started working in Diamond Industry; with company named Asian star. Worked for 3 years and learned all about Diamond Assorting and related knowledge on diamonds. Later, I worked with Living stone for 3 months & after that at Venus Jewel for 3 years and worked in administration department. After having good experience in diamond industry, I started of my company in to Diamond Trading, Diamond Jewelry & Diamond brokerage.

Do you consider anyone mentor in diamond market?
I take lot of inspiration from Anilbhai, Mehulbhai & Sapanbhai from Venus jewel. They have amazing Vision and Execution in diamond market. It is very inspiring to see them working with dedication as part of the team.

How was your experience during 2008 slowdown in diamond market?
Around that time – I was working with Venus jewel and did not face major problems. Company took good care of us. Shevantibhai Permachand, owner of Venus Jewel, personally visited and told us not to worry. He assured us that they will not cut the jobs or any deduction in pays.

A gesture like that goes long way – no one will forget how well they took care of all the employees in times of economic crisis.

If not in Diamond Market which other profession you would have chosen?
Difficult to answer – may be Stock Market.

If you get to chance to change something in Diamond Market – what would that be?
It would be great to see some more use of technology, which enables Brokers do their work for efficiently.

In last few years what changes have you seen in diamond market?
Frankly most of my career has gone working for some reputed established companies. When you work for some big company, you don’t keep close touch with what happens in market on day to day basis. So I am not able to answer your question. However ever since I started working in market as an entrepreneur, I am seeing lot of excitement as well as challenges.

Do you predict or for see any changes in coming years in our Diamond Market?
Changes – I see a lot and major ones. It will keep getting challenging to grow business. Companies have changed terms of doing business. Small traders or manufacture with small team – will see more challenges. Very likely you will see many small companies joining hand with big players and merging with them.

If all diamond companies get listed on Stock Market – which company would you invest in?
No one! I am not in to investing yet so cannot name or pick any company.

Can you share any tough decision in your life?
Leaving a Job and starting to work in Market was a tough decision and this around the time I got married. I think 15 days before I got married I started working independently in Diamond market. Well-wishers had warned me that it would take about 3 years to get going in market as an Entrepreneur.
By God’s grace and parent’s support I was able to move ahead and did well.